People always say it seems like they will always have a car payment. A car payment is not always a necessary evil – in fact, it is very possible to not have a car payment – like ever again. My husband and I have gotten auto loans for every car we’ve ever purchased. We’ve always… Read More Never have I ever
Did you know the average car payment is about $500 month? That the average car loan is for $30,000? And the average loan term is over 5 years? Those statistics can easily be found online but those figures are pretty disconcerting. There are many (MANY) articles (not even kidding – Google it) that suggest that… Read More Auto financing 101
My first job was at a local credit union and I worked in a small satellite office. I was just a teller but I do remember my manager telling me about a girl who had applied for an auto loan and when she was driving off the lot with her brand new car she was… Read More Standing in the gap
Your credit report has a lot of information on it. Some of it is necessary for banks and credit unions to make decisions as to whether or not to lend you money. Some of it is arbitrary and has absolutely not bearing on whether or not you are credit worthy. And yet there is quite… Read More Learn to read your credit report
When I worked as a loan officer, there were a number of different factors I had to take into account before I could give someone a loan. I not only had to look at their credit report or their FICO score, I had to look at their full financial picture: How much money did they… Read More Why is it important to have your credit in order?
Equifax, one of the three major credit reporting agencies in the U.S., announced a data breach that affects 143 million consumers back in the fall. Because of this they are offering free credit monitoring and the opportunity to see if your information has been compromised. Even if your information has been compromised and you are… Read More What is a credit freeze? Do you need one if your information was breeched?
There are 3 credit bureaus: Experian, Equifax and TransUnion. Sometimes information will show up on one credit report and not another. In order to make sure your information is correct, you should review all 3 reports – you can obtain a free copy of each report from annualcreditreport.com. You will not however, receive your FICO… Read More Credit reports and FICO scores